Many see stablecoins soaring to $2T in ‘handful’ of years: Ripple CEO

Ripple CEO Brad Garlinghouse says the growth behind the stablecoin market has been “profound” as it announced BNY Mellon as the firm’s stablecoin custodian for RLUSD.

Ripple CEO Brad Garlinghouse says there’s a widely-held belief that the stablecoin market could grow almost ten times over the next few years. 

The stablecoin industry is currently around $250 billion in market capitalization, and “many people think it will reach $1 to $2 trillion in a handful of years,” said Garlinghouse on CNBC’s “Squawk Box” on Wednesday.

He added that the growth behind it has been “profound,” saying that Ripple joined the market late partly because the firm was using stablecoins in its payment flows for its institutional customers. 

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